International Accreditation

Profonanpe abided by the highest standards for trust fund management, in line with those enforced by the most important international financial organizations. In 2014, Profonane started the process to earn accreditation from global funds, including the Adaptation Fund and the Green Climate Fund.

Our track record with these organizations is described below:

Green Climate Fund (GCF)

The Green Climate Fund (GCF) is a subvention organ of the United Nations Framework Convention on Climate Change (UNFCC) created on December 11, 2010 during COP 16, which took place in Cancun, Mexico. It was established by 194 government parties to the UNFCCC. It aims at making an amibitious contribution to mitigation and adaptation efforts, as determined in the international community’s climate change objectives. This fund was incepted as a mechanism to catalyze public and private resources, so that low- and mid- income nations may implement climate change mitigation and adaptation projects to rise to the challenge posed by global warming. To date, it has received contributions worth over US$10 billion from the United States, Germany, France, Japan, and others. It is expected to manage an annual totaling US$ 100 billion by 2020.

Thanks to its accreditation by the Adaptation Fund, Profonanpe then applied for accreditation with the GEF, which requires a detailed process to evaluate the institution’s trust fund standards. Regarding financial issues, the GEF requires: i) Transparency in financial operations; ii) Efficient administrative and financial processes; and iii) Effective accountability capacities. As for project implementation, it examines identification, selection, monitoring and evaluation capacities, as well as enforcement of environmental, social and gender safeguards.

In its board meeting of March 25, 2015, the GCF Board of Directors accredited the first seven institutions in the world as implementation entities, ready to channel resources and finance programs and projects that target climate change mitigation and adaptation. Profonanpe was the first and only national institution to be accredited in Latin America.

In November 2015, the GCF board of directors approved funding for the first project submitted by Profonanpe “Building Resilience in the Wetlands of the Datem del Marañón Province in Peru” for an approximate amount of US$ 6 million. Only 8 of 37 project proposals submitted to the GCF were approved. This project mainly aims at improving the resilience to climate change of indigenous communities living in Datem del Marañón, Loreto, contribute to mitigate greenhouse gas effect emissions from in the zone and promote adaptation to climate change effects in the communities and their productive systems.

Download the Accreditation Master Agreement signed between Profonanpe and the GCF here.

Adaptation Fund (AF)

The Adaptation Fund (AF) is a pioneer institution in climate change adaptation project finance. This Fund was established through the Kyoto Protocol of the United Nations Framework Convention on Climate Change. It has committed US$331 million for developing 51 projects for climate change adaptation and resilience in 45 countries, for the direct benefir of approximately 3.5 million people since 2010.

In 2012, Profonanpe started its accreditation procedure as National Implementation Entity (NIE) before the AF through a rigorous due diligence process including review of its policies, guidelines and institutional procedures; and environmental, social and gender safeguards, among others. In March 2014, Profonanpe successfully finished its accreditation process.

In March 2016, FA’s Board of Directors approved the first project submitted by Profonanpe “Adaptation to Climate Change Impacts in the Marine Coastal Ecosystem of Peru and its Fisheries” under a US$6.95 million fund . This project, endorsed by the Ministry of Environment, is implemented by PRODUCE – Ministry of Production – and under Profonanpe’s technically and administrative oversight. The project includes an Oversight Technical Secretariat staffed by professional experts from Peru’s Sea Institute (IMARPE), the Vice-ministry for Fisheries and Agriculture, the Ministry of Environment (MINAM) and the National Service for Natural Areas Protected by the State (SERNANP).

The project’s main objective is to support the Peruvian Government in reducing the vulnerability of coastal communities in view of climate change impacts on the marine-coastal ecosystems and fisheries.